Lessee shall commence renewal procedures in a timely manner prior to
 expiry of any of the Insurances, and provide to Lessor:

 (a) upon the request of Lessor, a written status report of renewal
 negotiations 10 days prior to each expiry date;

 (b) confirmation of completion of renewal prior to each expiry
 date; and

 (c) certificates of insurance (and where appropriate certificates
 of reinsurance), and a broker's letter of undertaking in a
 form acceptable to Lessor in English, detailing the coverage
 and confirming the insurers' (and any reinsurers') agreement
 to the specified insurance requirements of this Agreement
 within seven days after each renewal date (and, in the case of
 the reinsurance certificate and reinsurance broker's letter of
 undertaking, within 14 days after each renewal date).

 9.7 FAILURE TO INSURE

 If Lessee fails to maintain the Insurances in compliance with this
 Agreement, Lessee shall:

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 (a) forthwith ground or cause to be grounded the Aircraft and
 shall keep or procure that the Aircraft be kept grounded until
 such time as the Insurances shall again be in full force and
 effect; and

 (b) immediately notify Lessor of the non-compliance of the
 Insurances and provide Lessor with full details of any steps
 which Lessee is taking or proposes to take, in order to remedy
 such non-compliance;

 and each of the Indemnitees will be entitled but not bound (without
 prejudice to any other rights of Lessor under this Agreement):